Washington, D.C.— Senate Finance Committee Chair Ron Wyden, D-Ore., today released the following statement on the inclusion of his Investment Tax Credit in the bipartisan CHIPS package:
“Our incentives to produce chips here at home are a big win for American companies, consumers, and workers. Shortages and supply chain problems have shown the importance of chips to our economy and contributed to inflation. We need to bring chip manufacturing back home. Foreign governments in countries like China provide tremendous subsidies to their manufacturers, undercutting American companies at every turn. Our package provides a significant investment tax credit to companies that build chips in the United States. We can’t allow foreign governments to lure more of our companies abroad, costing good-paying American jobs and raising costs for American consumers.”
A web version of this statement is here.